Priming the Pump: Michael Costa’s Big Transaction to Create New LIHTC Deals for Years to Come

By Caitlin Jones
May 17, 2011 1 min read

Tax Credit Advisor, May 2011: You can’t accuse Michael Costa of thinking small. The housing veteran is sifting through a $3.4 billion portfolio of 276 low-income housing tax credit projects in 33 states and Puerto Rico to create a stream of new tax credit development deals – for years to come.

The third-generation Californian is rounding up consents from investors and lenders associated with the properties in the portfolio, which is under contract to be purchased from Citibank.

Costa, president and CEO of MacFarlane Costa Housing Partners (MCA), Gardena, Calif., is also president, CEO, and managing member of two other new companies – Highridge Costa Investors, LLC (HCI) and Highridge Costa Housing Partners, LLC (HCP). Costa expects HCI to close its purchase of the portfolio from Citibank within the next few months.

Breaking Ground

Jennifer Leimaile Ho, Minnesota Housing Commissioner and Incoming Chair of National Council of State Housing Agencies

Pamela Martineau • December 1, 2024 10 min read

Earlier this fall, Jennifer Leimaile Ho was elected chair of the National Council of State Housing Agencies’ (NCSHA) 2025 Board of Directors. Ho is the Commissioner of Minnesota Housing, having been appointed by Governor Tim Walz in January 2019 and reappointed in 2023.

“Business as Usual”

Leaders in Equity Express Optimism Despite an Uncertain Future

Abram Mamet • December 1, 2024 9 min read

Any outside observer may assume some unease amongst the low-income housing industry. Buffeted on the one hand by residual stressors from the COVID-19 pandemic and on the other by the uncertain prospects of an incoming federal administration keen on cutting spending and shrinking government programs, the affordable housing landscape is experiencing an inflection point.

NCSHA Recognizes Stand-Out Affordable Housing Programs and Initiatives

Pamela Martineau • December 1, 2024 7 min read

This fall, the National Council of State Housing Agencies (NCSHA) recognized 17 programs offered by state housing finance agencies across the nation that creatively developed tools to tackle their communities’ affordable housing challenges.